EX-99.1 2 a14-22493_1ex99d1.htm EX-99.1

Exhibit 99.1

 

 


 

 

Updated: October 15, 2014

Revisions Noted in Bold

Dynamically positioned *

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Dayrate on

 

Dayrate on

 

 

 

 

 

 

 

 

 

 

 

 

 

Yr. (1)

 

Water

 

Drilling

 

 

 

 

 

Estimated

 

Estimated

 

Current

 

Previous

 

Estimated Out of Service Days (4)

 

Estimated Out of Service Days (4)

 

 

 

Footnote

 

Floater

 

Dynamically

 

Entered

 

Depth

 

Depth

 

 

 

 

 

Contract

 

Expiration

 

Contract (3)

 

Contract (3)

 

2014

 

2015

 

Rig Type/Name

 

References

 

Type

 

Positioned

 

Service

 

(Feet)

 

(Feet)

 

Location

 

Customer

 

Start Date (2)

 

Date (2)

 

(Dollars)

 

(Dollars)

 

Q1

 

Q2

 

Q3

 

Q4

 

Q1

 

Q2

 

Q3

 

Q4

 

Rigs Under Construction (12)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deepwater Thalassa

 

(6), (11)

 

ship

 

*

 

TBA

 

12,000

 

40,000

 

TBA

 

Shell

 

Q1 2016

 

Q1 2026

 

519,000

 

N/A

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deepwater Proteus

 

(6), (11)

 

ship

 

*

 

TBA

 

12,000

 

40,000

 

TBA

 

Shell

 

Q2 2016

 

Q2 2026

 

519,000

 

N/A

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deepwater Pontus

 

(6), (11)

 

ship

 

*

 

TBA

 

12,000

 

40,000

 

TBA

 

Shell

 

Q1 2017

 

Q4 2026

 

519,000

 

N/A

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deepwater Poseidon

 

(6), (11)

 

ship

 

*

 

TBA

 

12,000

 

40,000

 

TBA

 

Shell

 

Q2 2017

 

Q2 2027

 

519,000

 

N/A

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deepwater Conqueror

 

(6), (8), (11)

 

ship

 

*

 

TBA

 

12,000

 

40,000

 

USGOM

 

Chevron

 

Q4 2016

 

Q4 2021

 

599,000

 

N/A

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

JSPL Ultra-Deepwater Drillship TBN 1

 

(9)

 

ship

 

*

 

TBA

 

12,000

 

40,000

 

TBA

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

JSPL Ultra-Deepwater Drillship TBN 2

 

(9)

 

ship

 

*

 

TBA

 

12,000

 

40,000

 

TBA

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Transocean Cepheus

 

(20)

 

 

 

 

 

TBA

 

400

 

35,000

 

TBA

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Transocean Cassiopeia

 

(20)

 

 

 

 

 

TBA

 

400

 

35,000

 

TBA

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Transocean Centaurus

 

(20)

 

 

 

 

 

TBA

 

400

 

35,000

 

TBA

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Transocean Cetus

 

(20)

 

 

 

 

 

TBA

 

400

 

35,000

 

TBA

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Transocean Circinus

 

(20)

 

 

 

 

 

TBA

 

400

 

35,000

 

TBA

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

High Specification Floater: Ultra-Deepwater (29)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deepwater Asgard

 

 

 

ship

 

*

 

2014

 

12,000

 

40,000

 

TBA

 

TBA

 

Aug-14

 

Jul-17

 

600,000

 

N/A

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

Deepwater Invictus

 

(6), (22)

 

ship

 

*

 

2014

 

12,000

 

40,000

 

USGOM

 

BHP Billiton

 

Jul-14

 

Mar-17

 

595,000

 

N/A

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

Discoverer Americas

 

(6)

 

ship

 

*

 

2009

 

12,000

 

40,000

 

Tanzania

 

Statoil

 

Mar-14

 

Mar-16

 

735,000

 

636,000

 

—

 

—

 

—

 

30

 

—

 

—

 

—

 

—

 

Deepwater Champion

 

(6)

 

ship

 

*

 

2011

 

12,000

 

40,000

 

USGOM

 

ExxonMobil

 

Jun-12

 

Nov-15

 

677,000

 

655,000

 

—

 

—

 

—

 

—

 

—

 

4

 

36

 

—

 

Discoverer Clear Leader

 

(6), (8), (19)

 

ship

 

*

 

2009

 

12,000

 

40,000

 

USGOM

 

Chevron

 

Sep-14

 

Aug-18

 

590,000

 

569,000

 

—

 

—

 

—

 

21

 

—

 

—

 

—

 

—

 

Discoverer Inspiration

 

(6), (19)

 

ship

 

*

 

2010

 

12,000

 

40,000

 

USGOM

 

Chevron

 

Feb-10

 

Mar-15

 

526,000

 

494,000

 

—

 

—

 

—

 

—

 

21

 

—

 

—

 

—

 

 

 

(6), (8), (19)

 

 

 

*

 

 

 

 

 

 

 

USGOM

 

Chevron

 

Mar-15

 

Mar-20

 

585,000

 

526,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Dhirubhai Deepwater KG1

 

(6), (7), (8)

 

ship

 

*

 

2009

 

12,000

 

35,000

 

Brazil

 

Petrobras

 

Nov-14

 

Nov-17

 

443,000

 

510,000

 

—

 

—

 

60

 

70

 

—

 

—

 

—

 

30

 

Dhirubhai Deepwater KG2

 

 

 

ship

 

*

 

2010

 

12,000

 

35,000

 

India

 

Reliance

 

Mar-12

 

Feb-15

 

510,000

 

573,000

 

—

 

13

 

—

 

—

 

24

 

37

 

—

 

—

 

Discoverer India

 

(14)

 

ship

 

*

 

2010

 

12,000

 

40,000

 

USGOM

 

Reliance

 

Sep-13

 

Sep-16

 

528,000

 

499,000

 

—

 

—

 

—

 

—

 

—

 

45

 

—

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

India

 

Reliance

 

Sep-16

 

Nov-20

 

508,000

 

528,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Petrobras 10000

 

(6), (7), (8)

 

ship

 

*

 

2009

 

12,000

 

37,500

 

Brazil

 

Petrobras

 

Feb-11

 

Jul-19

 

446,000

 

N/A

 

—

 

—

 

30

 

35

 

—

 

—

 

—

 

—

 

Discoverer Deep Seas

 

(6)

 

ship

 

*

 

2001

 

10,000

 

35,000

 

USGOM

 

Murphy Oil

 

Oct-13

 

Nov-16

 

608,000

 

456,000

 

—

 

—

 

—

 

—

 

—

 

91

 

—

 

—

 

Discoverer Enterprise

 

 

 

ship

 

*

 

1999

 

10,000

 

35,000

 

USGOM

 

BP

 

Jan-14

 

Dec-14

 

615,000

 

515,000

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

Discoverer Spirit

 

 

 

ship

 

*

 

2000

 

10,000

 

35,000

 

USGOM

 

 

 

 

 

 

 

 

 

 

 

—

 

—

 

61

 

69

 

—

 

—

 

—

 

—

 

GSF C.R. Luigs

 

 

 

ship

 

*

 

2000

 

10,000

 

35,000

 

USGOM

 

 

 

 

 

 

 

 

 

 

 

—

 

—

 

—

 

92

 

29

 

—

 

—

 

—

 

GSF Jack Ryan

 

 

 

ship

 

*

 

2000

 

10,000

 

35,000

 

Spain

 

 

 

 

 

Idle

 

 

 

 

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

Deepwater Discovery

 

(6), (7)

 

ship

 

*

 

2000

 

10,000

 

30,000

 

Nigeria

 

Shell

 

Jan-14

 

Oct-14

 

461,000

 

NA

 

—

 

—

 

—

 

—

 

—

 

7

 

92

 

3

 

Deepwater Frontier

 

 

 

ship

 

*

 

1999

 

10,000

 

30,000

 

Australia

 

ExxonMobil

 

Feb-14

 

Dec-14

 

565,000

 

534,000

 

8

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

Deepwater Millennium

 

(7)

 

ship

 

*

 

1999

 

10,000

 

30,000

 

Australia

 

Woodside

 

Apr-14

 

Apr-15

 

600,000

 

570,000

 

90

 

24

 

—

 

—

 

—

 

—

 

—

 

—

 

 

 

(7)

 

 

 

 

 

 

 

 

 

 

 

Australia

 

Woodside

 

Apr-15

 

Apr-16

 

611,000

 

600,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deepwater Pathfinder

 

(6)

 

ship

 

*

 

1998

 

10,000

 

30,000

 

USGOM

 

ENI

 

Aug-10

 

Apr-15

 

681,000

 

550,000

 

—

 

—

 

—

 

47

 

15

 

—

 

—

 

—

 

Deepwater Expedition

 

 

 

ship

 

*

 

1999

 

8,500

 

30,000

 

Saudi Arabia

 

Saudi Aramco

 

Nov-12

 

Nov-14

 

650,000

 

640,000

 

—

 

—

 

—

 

—

 

—

 

10

 

50

 

—

 

Cajun Express

 

(6), (7)

 

semi

 

*

 

2001

 

8,500

 

35,000

 

Senegal

 

Cairn Energy

 

Jul-14

 

Oct-14

 

596,000

 

643,000

 

—

 

—

 

—

 

32

 

—

 

—

 

—

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ivory Coast

 

CNR

 

Nov-14

 

Nov-15

 

495,000

 

596,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deepwater Nautilus

 

(6), (8)

 

semi

 

 

 

2000

 

8,000

 

30,000

 

USGOM

 

Shell

 

Aug-12

 

Aug-17

 

531,000

 

551,000

 

—

 

—

 

—

 

—

 

90

 

45

 

—

 

—

 

GSF Explorer

 

 

 

ship

 

*

 

1972/1998

 

7,800

 

30,000

 

India

 

ONGC

 

Jul-13

 

Oct-14

 

412,000

 

N/A

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

Discoverer Luanda

 

(6), (13)

 

ship

 

*

 

2010

 

7,500

 

40,000

 

Angola

 

BP

 

Jan-11

 

Jan-18

 

483,000

 

N/A

 

—

 

—

 

—

 

—

 

21

 

—

 

—

 

—

 

GSF Development Driller I

 

 

 

semi

 

*

 

2005

 

7,500

 

37,500

 

USGOM

 

 

 

 

 

Idle

 

 

 

 

 

—

 

—

 

—

 

—

 

14

 

—

 

—

 

—

 

GSF Development Driller II

 

(8)

 

semi

 

*

 

2005

 

7,500

 

37,500

 

Romania

 

Lukoil

 

Oct-14

 

Jul-15

 

355,000

 

606,000

 

—

 

73

 

92

 

39

 

—

 

—

 

—

 

—

 

Development Driller III

 

(6), (19)

 

semi

 

*

 

2009

 

7,500

 

37,500

 

USGOM

 

BP

 

Nov-09

 

Nov-16

 

431,000

 

N/A

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

Sedco Energy

 

(21)

 

semi

 

*

 

2001

 

7,500

 

35,000

 

Congo

 

Total

 

Sep-14

 

Oct-15

 

380,000

 

N/A

 

—

 

—

 

53

 

—

 

—

 

—

 

—

 

—

 

Sedco Express

 

(23)

 

semi

 

*

 

2001

 

7,500

 

35,000

 

Nigeria

 

ENI

 

Apr-14

 

Oct-14

 

455,000

 

600,000

 

—

 

—

 

—

 

—

 

—

 

—

 

71

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Estimated Days Out of Service

 

98

 

110

 

296

 

435

 

214

 

239

 

249

 

33

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Estimated Average Contract Dayrate(5)

 

$

547,000

 

$

554,000

 

$

555,000

 

$

549,000

 

$

535,000

 

$

531,000

 

$

539,000

 

$

552,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

High Specification Floater: Deepwater (12)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deepwater Navigator

 

(7), (8), (15)

 

ship

 

*

 

1971/2000

 

7,200

 

25,000

 

Brazil

 

Petrobras

 

May-11

 

Feb-16

 

374,000

 

190,000

 

—

 

—

 

—

 

1

 

—

 

45

 

—

 

—

 

Discoverer Seven Seas

 

 

 

ship

 

*

 

1976/1997

 

7,000

 

25,000

 

TBA

 

TBA

 

Jul-14

 

Oct-14

 

400,000

 

500,000

 

—

 

—

 

65

 

—

 

—

 

—

 

—

 

—

 

Transocean Marianas

 

(6), (8)

 

semi

 

 

 

1979/1998

 

7,000

 

30,000

 

South Africa

 

PetroSA

 

Jun-14

 

Apr-15

 

370,000

 

N/A

 

10

 

72

 

—

 

—

 

—

 

—

 

—

 

—

 

Sedco 706

 

(6), (7), (8)

 

semi

 

*

 

1976/1994/ 2008

 

6,500

 

25,000

 

Brazil

 

Petrobras

 

May-14

 

Sep-16

 

300,000

 

361,000

 

—

 

23

 

—

 

—

 

59

 

1

 

—

 

—

 

Sedco 702

 

(6), (7)

 

semi

 

*

 

1973/2007

 

6,500

 

25,000

 

Nigeria

 

Shell

 

Sep-12

 

Feb-16

 

461,000

 

357,000

 

60

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

Sedco 707

 

(7), (8), (10)

 

semi

 

*

 

1976/1997

 

6,500

 

25,000

 

Brazil

 

Petrobras

 

Nov-09

 

Nov-14

 

393,000

 

188,000

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

GSF Celtic Sea

 

 

 

semi

 

 

 

1982/1998

 

5,750

 

25,000

 

Angola

 

ExxonMobil

 

Aug-13

 

Nov-14

 

328,000

 

324,000

 

—

 

—

 

—

 

5

 

—

 

—

 

—

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Angola

 

Vaalco

 

Nov-14

 

Dec-14

 

338,000

 

328,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Jack Bates

 

(7)

 

semi

 

 

 

1986/1997

 

5,400

 

30,000

 

JPDA

 

ENI

 

Sep-14

 

Oct-14

 

440,000

 

380,000

 

—

 

—

 

15

 

—

 

—

 

—

 

—

 

—

 

 

 

(7)

 

 

 

 

 

 

 

 

 

 

 

Australia

 

Inpex

 

Oct-14

 

Mar-15

 

420,000

 

440,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

M.G. Hulme, Jr.

 

(7)

 

semi

 

 

 

1983/1996

 

5,000

 

25,000

 

TBA

 

TBA

 

Dec-14

 

Mar-15

 

200,000

 

N/A

 

—

 

35

 

7

 

36

 

9

 

—

 

—

 

—

 

Sedco 710

 

 

 

semi

 

*

 

1983/2001

 

4,500

 

25,000

 

Spain

 

 

 

 

 

Stacked

 

 

 

 

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

Transocean Rather

 

 

 

semi

 

 

 

1988

 

4,500

 

25,000

 

Malaysia

 

 

 

 

 

Stacked

 

 

 

 

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

Sovereign Explorer

 

 

 

semi

 

 

 

1984

 

4,500

 

25,000

 

USGOM

 

 

 

 

 

Stacked

 

 

 

 

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Estimated Days Out of Service

 

70

 

130

 

87

 

42

 

68

 

46

 

—

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Estimated Average Contract Dayrate(5)

 

$

378,000

 

$

386,000

 

$

376,000

 

$

380,000

 

$

363,000

 

$

374,000

 

$

378,000

 

$

378,000

 

 


 

Updated: October 15, 2014

Revisions Noted in Bold

Dynamically positioned *

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Dayrate on

 

Dayrate on

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Yr. (1)

 

Water

 

Drilling

 

 

 

 

 

Estimated

 

Estimated

 

Current

 

Previous

 

Estimated Out of Service Days (4)

 

Estimated Out of Service Days (4)

 

 

 

Footnote

 

Floater

 

Dynamically

 

Entered

 

Depth

 

Depth

 

 

 

 

 

Contract

 

Expiration

 

Contract (3)

 

Contract (3)

 

2014

 

2015

 

Rig Type/Name

 

References

 

Type

 

Positioned

 

Service

 

(Feet)

 

(Feet)

 

Location

 

Customer

 

Start Date (2)

 

Date (2)

 

(Dollars)

 

(Dollars)

 

Q1

 

Q2

 

Q3

 

Q4

 

Q1

 

Q2

 

Q3

 

Q4

 

High Specification Floater: Harsh Environment (7)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Transocean Barents

 

(6), (7)

 

semi

 

*

 

2009

 

10,000

 

30,000

 

NNS

 

Shell

 

Sep-14

 

Sep-15

 

591,000

 

574,000

 

—

 

—

 

68

 

6

 

—

 

—

 

—

 

—

 

Transocean Spitsbergen

 

(6), (7), (16), (25)

 

semi

 

*

 

2010

 

10,000

 

30,000

 

NNS

 

Statoil

 

Jul-13

 

Jul-15

 

535,000

 

504,000

 

—

 

—

 

—

 

—

 

55

 

—

 

—

 

—

 

Henry Goodrich

 

(6)

 

semi

 

 

 

1985/2007

 

5,000

 

30,000

 

Canada

 

Suncor

 

Jun-14

 

Mar-15

 

476,000

 

346,000

 

—

 

—

 

—

 

—

 

14

 

91

 

9

 

—

 

Transocean Leader

 

(6), (7)

 

semi

 

 

 

1987/1997

 

4,500

 

25,000

 

NNS

 

Statoil

 

Mar-12

 

Mar-15

 

400,000

 

469,000

 

—

 

—

 

—

 

—

 

12

 

33

 

—

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

TBA

 

TBA

 

May-15

 

May-18

 

335,000

 

400,000

 

 

 

 

 

—

 

—

 

—

 

—

 

—

 

—

 

 

 

(24)

 

 

 

 

 

 

 

 

 

 

 

TBA

 

TBA

 

May-18

 

May-19

 

305,000

 

335,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Paul B. Loyd, Jr.

 

(7)

 

semi

 

 

 

1990

 

2,000

 

25,000

 

UKNS

 

BP

 

Sep-14

 

Mar-15

 

444,000

 

441,000

 

—

 

—

 

—

 

—

 

—

 

—

 

43

 

50

 

 

 

(7)

 

 

 

 

 

 

 

 

 

 

 

UKNS

 

BP

 

Mar-15

 

Aug-15

 

426,000

 

444,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(7)

 

 

 

 

 

 

 

 

 

 

 

UKNS

 

BP

 

Nov-15

 

Mar-16

 

433,000

 

426,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(7)

 

 

 

 

 

 

 

 

 

 

 

UKNS

 

BP

 

Mar-16

 

Sep-16

 

439,000

 

433,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(7)

 

 

 

 

 

 

 

 

 

 

 

UKNS

 

BP

 

Sep-16

 

Mar-17

 

446,000

 

439,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(7)

 

 

 

 

 

 

 

 

 

 

 

UKNS

 

BP

 

Mar-17

 

Jun-17

 

453,000

 

446,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Transocean Arctic

 

(6), (7)

 

semi

 

 

 

1986

 

1,650

 

25,000

 

NNS

 

Rig Management Norway

 

Jul-14

 

Jan-16

 

409,000

 

414,000

 

—

 

—

 

64

 

14

 

—

 

—

 

—

 

—

 

 

 

(6), (7)

 

 

 

 

 

 

 

 

 

 

 

NNS

 

OMV

 

Jan-16

 

Jun-16

 

509,000

 

409,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Polar Pioneer

 

(6)

 

semi

 

 

 

1985

 

1,500

 

25,000

 

Alaska

 

Shell

 

Nov-14

 

Feb-15

 

592,000

 

523,000

 

—

 

74

 

78

 

67

 

—

 

—

 

—

 

—

 

 

 

(6)

 

 

 

 

 

 

 

 

 

 

 

Alaska

 

Shell

 

Feb-15

 

Mar-15

 

561,000

 

592,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(6)

 

 

 

 

 

 

 

 

 

 

 

Alaska

 

Shell

 

Mar-15

 

Apr-15

 

592,000

 

561,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(6)

 

 

 

 

 

 

 

 

 

 

 

Alaska

 

Shell

 

Apr-15

 

Jun-15

 

561,000

 

592,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(6)

 

 

 

 

 

 

 

 

 

 

 

Alaska

 

Shell

 

Jun-15

 

Oct-15

 

623,000

 

561,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(6)

 

 

 

 

 

 

 

 

 

 

 

Alaska

 

Shell

 

Oct-15

 

Dec-15

 

561,000

 

623,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(6)

 

 

 

 

 

 

 

 

 

 

 

Alaska

 

Shell

 

Dec-15

 

Apr-16

 

592,000

 

561,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(6)

 

 

 

 

 

 

 

 

 

 

 

Alaska

 

Shell

 

Apr-16

 

Jun-16

 

561,000

 

592,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(6)

 

 

 

 

 

 

 

 

 

 

 

Alaska

 

Shell

 

Jun-16

 

Oct-16

 

623,000

 

561,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(6)

 

 

 

 

 

 

 

 

 

 

 

Alaska

 

Shell

 

Oct-16

 

Dec-16

 

561,000

 

623,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(6)

 

 

 

 

 

 

 

 

 

 

 

Alaska

 

Shell

 

Dec-16

 

Jun-17

 

592,000

 

561,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Estimated Days Out of Service

 

—

 

74

 

210

 

87

 

81

 

124

 

52

 

50

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Estimated Average Contract Dayrate(5)

 

$    464,000

 

$    460,000

 

$    467,000

 

$    482,000

 

$    483,000

 

$    485,000

 

$    482,000

 

$    407,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Midwater Floaters (21)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sedco 700

 

 

 

semi

 

 

 

1973/1997

 

3,600

 

25,000

 

Malaysia

 

 

 

 

 

Stacked

 

 

 

 

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

Transocean Legend

 

(7)

 

semi

 

 

 

1983

 

3,500

 

25,000

 

Australia

 

Conoco Phillips

 

Apr-14

 

Jan-15

 

425,000

 

293,000

 

27

 

—

 

6

 

—

 

—

 

—

 

—

 

—

 

Transocean Amirante

 

 

 

semi

 

 

 

1978/1997

 

3,500

 

25,000

 

TBA

 

TBA

 

Dec-14

 

Nov-15

 

335,000

 

N/A

 

—

 

15

 

92

 

61

 

—

 

—

 

—

 

—

 

GSF Arctic I

 

 

 

semi

 

 

 

1983/1996

 

3,400

 

25,000

 

Spain

 

 

 

 

 

Stacked

 

 

 

 

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

Transocean Driller

 

(7), (8)

 

semi

 

 

 

1991

 

3,000

 

25,000

 

Brazil

 

Petrobras

 

Jul-10

 

Jul-16

 

264,000

 

116,000

 

—

 

—

 

—

 

—

 

—

 

—

 

2

 

—

 

GSF Rig 135

 

(7)

 

semi

 

 

 

1983

 

2,800

 

25,000

 

Nigeria

 

NPDC

 

Nov-14

 

May-15

 

311,000

 

387,000

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

GSF Rig 140

 

(6)

 

semi

 

 

 

1983

 

2,800

 

25,000

 

India

 

ONGC

 

Mar-12

 

Dec-14

 

260,000

 

N/A

 

—

 

—

 

—

 

—

 

6

 

45

 

—

 

—

 

GSF Aleutian Key

 

 

 

semi

 

 

 

1976/1999/2001

 

2,300

 

25,000

 

Gabon

 

 

 

 

 

Stacked

 

 

 

 

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

Sedco 711

 

(18)

 

semi

 

 

 

1982

 

1,800

 

25,000

 

UKNS

 

Talisman

 

Jun-14

 

Dec-14

 

355,000

 

350,000

 

13

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

UKNS

 

Talisman

 

Dec-14

 

Jun-15

 

361,000

 

355,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

UKNS

 

Talisman

 

Jun-15

 

Dec-15

 

366,000

 

361,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Transocean John Shaw

 

(7)

 

semi

 

 

 

1982

 

1,800

 

25,000

 

UKNS

 

Taqa

 

Apr-14

 

Dec-14

 

356,000

 

360,000

 

81

 

26

 

—

 

—

 

—

 

—

 

—

 

—

 

 

 

(7)

 

 

 

 

 

 

 

 

 

 

 

UKNS

 

Taqa

 

Dec-14

 

Dec-15

 

411,000

 

356,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GSF Arctic III

 

(7)

 

semi

 

 

 

1984

 

1,800

 

25,000

 

UKNS

 

Chevron

 

Apr-14

 

Oct-14

 

411,000

 

336,000

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

Sedco 712

 

 

 

semi

 

 

 

1983

 

1,600

 

25,000

 

UKNS

 

Talisman

 

Apr-14

 

Oct-14

 

386,000

 

380,000

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

UKNS

 

Talisman

 

Oct-14

 

Apr-15

 

391,000

 

386,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

UKNS

 

Talisman

 

Apr-15

 

Oct-15

 

397,000

 

391,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

UKNS

 

Talisman

 

Oct-15

 

Apr-16

 

403,000

 

397,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

UKNS

 

Talisman

 

Apr-16

 

Oct-16

 

409,000

 

403,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sedco 714

 

(7)

 

semi

 

 

 

1983/1997

 

1,600

 

25,000

 

UKNS

 

Total

 

Sep-14

 

Sep-15

 

437,000

 

401,000

 

—

 

33

 

90

 

—

 

—

 

—

 

—

 

—

 

 

 

(7)

 

 

 

 

 

 

 

 

 

 

 

UKNS

 

Total

 

Sep-15

 

Mar-16

 

443,000

 

437,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GSF Grand Banks

 

(6), (8)

 

semi

 

 

 

1984

 

1,500

 

25,000

 

Canada

 

Husky

 

Jan-13

 

Sep-15

 

408,000

 

297,000

 

90

 

75

 

—

 

—

 

—

 

—

 

—

 

—

 

Actinia

 

 

 

semi

 

 

 

1982

 

1,500

 

25,000

 

India

 

ONGC

 

Jun-12

 

Jul-15

 

190,000

 

222,000

 

—

 

—

 

—

 

—

 

21

 

—

 

21

 

—

 

Sedco 601

 

 

 

semi

 

 

 

1983

 

1,500

 

25,000

 

Malaysia

 

 

 

 

 

Stacked

 

 

 

 

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

Transocean Winner

 

(6), (7)

 

semi

 

 

 

1983

 

1,500

 

25,000

 

NNS

 

Marathon

 

Jan-13

 

Jul-15

 

447,000

 

495,000

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

 

 

(6), (7)

 

 

 

 

 

 

 

 

 

 

 

NNS

 

Marathon

 

Jul-15

 

Jul-16

 

499,000

 

447,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Transocean Searcher

 

(6), (7)

 

semi

 

 

 

1983/1988

 

1,500

 

25,000

 

NNS

 

BG

 

Jun-12

 

May-15

 

387,000

 

447,000

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

Transocean Prospect

 

(7)

 

semi

 

 

 

1983/1992

 

1,500

 

25,000

 

UKNS

 

Conoco Phillips

 

May-14

 

Nov-14

 

403,000

 

425,000

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

 

 

(7)

 

 

 

 

 

 

 

 

 

 

 

UKNS

 

Conoco Phillips

 

Nov-14

 

Jan-15

 

409,000

 

403,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(7)

 

 

 

 

 

 

 

 

 

 

 

UKNS

 

Conoco Phillips

 

Jan-15

 

May-15

 

373,000

 

409,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

J.W. McLean

 

 

 

semi

 

 

 

1974/1996

 

1,250

 

25,000

 

UKNS

 

 

 

 

 

Stacked

 

 

 

 

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

Sedco 704

 

(7)

 

semi

 

 

 

1974/1993

 

1,000

 

25,000

 

UKNS

 

Maersk

 

Jun-13

 

Aug-15

 

369,000

 

335,000

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

UKNS

 

Maersk

 

Aug-15

 

Feb-16

 

369,000

 

369,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Estimated Days Out of Service

 

211

 

149

 

188

 

61

 

27

 

45

 

23

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Estimated Average Contract Dayrate(5)

 

$    345,000

 

$    352,000

 

$    361,000

 

$    358,000

 

$    364,000

 

$    362,000

 

$    379,000

 

$    388,000

 

 


 

 

Updated: October 15, 2014

Revisions Noted in Bold

Dynamically positioned *

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Dayrate on

 

Dayrate on

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Yr. (1)

 

Water

 

Drilling

 

 

 

 

 

Estimated

 

Estimated

 

Current

 

Previous

 

Estimated Out of Service Days (4)

 

Estimated Out of Service Days (4)

 

 

 

Footnote

 

Floater

 

Dynamically

 

Entered

 

Depth

 

Depth

 

 

 

 

 

Contract

 

Expiration

 

Contract (3)

 

Contract (3)

 

2014

 

2015

 

Rig Type/Name

 

References

 

Type

 

Positioned

 

Service

 

(Feet)

 

(Feet)

 

Location

 

Customer

 

Start Date (2)

 

Date (2)

 

(Dollars)

 

(Dollars)

 

Q1

 

Q2

 

Q3

 

Q4

 

Q1

 

Q2

 

Q3

 

Q4

 

High Specification Jackups (10)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GSF Constellation I

 

(6)

 

 

 

 

 

2003

 

400

 

30,000

 

Indonesia

 

Total

 

Sep-12

 

Jan-16

 

150,000

 

140,000

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

GSF Constellation II

 

(6)

 

 

 

 

 

2004

 

400

 

30,000

 

Gabon

 

Vaalco

 

Oct-14

 

Jul-16

 

167,000

 

165,000

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

GSF Galaxy I

 

(7)

 

 

 

 

 

1991/2001

 

400

 

30,000

 

UKNS

 

Total

 

May-14

 

Nov-14

 

211,000

 

133,000

 

90

 

48

 

—

 

—

 

—

 

—

 

—

 

—

 

 

 

(7)

 

 

 

 

 

 

 

 

 

 

 

UKNS

 

Total

 

Nov-14

 

May-15

 

214,000

 

211,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(7)

 

 

 

 

 

 

 

 

 

 

 

UKNS

 

Total

 

May-15

 

Nov-15

 

218,000

 

214,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(7)

 

 

 

 

 

 

 

 

 

 

 

UKNS

 

Total

 

Nov-15

 

May-16

 

221,000

 

218,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(7)

 

 

 

 

 

 

 

 

 

 

 

UKNS

 

Total

 

May-16

 

Nov-16

 

224,000

 

221,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(7)

 

 

 

 

 

 

 

 

 

 

 

UKNS

 

Total

 

Nov-16

 

May-17

 

228,000

 

224,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GSF Galaxy II

 

(7)

 

 

 

 

 

1998

 

400

 

30,000

 

UKNS

 

GDF Suez

 

Aug-14

 

Nov-14

 

207,000

 

190,000

 

31

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

 

 

(7)

 

 

 

 

 

 

 

 

 

 

 

UKNS

 

GDF Suez

 

Nov-14

 

Mar-15

 

217,000

 

207,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GSF Galaxy III

 

(7)

 

 

 

 

 

1999

 

400

 

30,000

 

UKNS

 

Nexen

 

Jul-14

 

Oct-14

 

160,000

 

180,000

 

—

 

—

 

6

 

30

 

—

 

91

 

5

 

—

 

Transocean Honor

 

(6), (13)

 

 

 

 

 

2012

 

400

 

30,000

 

Angola

 

Chevron

 

May-12

 

Apr-15

 

155,000

 

N/A

 

—

 

—

 

—

 

9

 

—

 

—

 

—

 

—

 

 

 

(6)

 

 

 

 

 

 

 

 

 

 

 

Angola

 

Chevron

 

Apr-15

 

Apr-16

 

194,000

 

155,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GSF Monarch

 

(7)

 

 

 

 

 

1986

 

350

 

30,000

 

UKNS

 

GDF Suez

 

Sep-14

 

Mar-15

 

168,000

 

168,000

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

Transocean Andaman

 

(6)

 

 

 

 

 

2013

 

350

 

35,000

 

Thailand

 

Chevron

 

May-13

 

May-16

 

150,000

 

N/A

 

—

 

—

 

—

 

—

 

—

 

—

 

5

 

3

 

Transocean Siam Driller

 

(6)

 

 

 

 

 

2013

 

350

 

35,000

 

Thailand

 

Chevron

 

Mar-13

 

Mar-18

 

140,000

 

N/A

 

—

 

—

 

—

 

—

 

—

 

—

 

8

 

—

 

Transocean Ao Thai

 

(6)

 

 

 

 

 

2013

 

350

 

35,000

 

Thailand

 

Chevron

 

Oct-13

 

Sep-18

 

139,000

 

N/A

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Estimated Days Out of Service

 

121

 

48

 

6

 

39

 

—

 

91

 

18

 

3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Estimated Average Contract Dayrate(5)

 

$   158,000

 

$   166,000

 

$   165,000

 

$   166,000

 

$   167,000

 

$   164,000

 

$   166,000

 

$   166,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Estimated Days Out of Service

 

500

 

511

 

787

 

664

 

390

 

545

 

342

 

86

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed-Price Options - See Footnote 10

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

High Specification Floater: Ultra-Deepwater

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deepwater Asgard

 

 

 

ship

 

*

 

2014

 

12,000

 

40,000

 

TBA

 

TBA

 

Jul-17

 

Jul-18

 

500,000

 

600,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GSF Development Driller II

 

(6)

 

semi

 

*

 

2005

 

7,500

 

37,500

 

Romania

 

Lukoil

 

Jul-15

 

Feb-16

 

400,000

 

355,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cajun Express

 

 

 

semi

 

*

 

2001

 

8,500

 

35,000

 

Ivory Coast

 

CNR

 

Nov-15

 

Jan-16

 

495,000

 

495,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

High Specification Floater: Deepwater

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Discoverer Seven Seas

 

 

 

ship

 

*

 

1976/1997

 

7,000

 

25,000

 

TBA

 

TBA

 

Oct-14

 

Nov-14

 

400,000

 

400,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GSF Celtic Sea

 

 

 

semi

 

 

 

1982/1998

 

5,750

 

25,000

 

Angola

 

Vaalco

 

Dec-14

 

Feb-15

 

338,000

 

338,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Jack Bates

 

(7)

 

semi

 

 

 

1986/1997

 

5,400

 

30,000

 

Australia

 

Inpex

 

Mar-15

 

Mar-16

 

420,000

 

420,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Australia

 

Inpex

 

Mar-16

 

Sep-16

 

420,000

 

420,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Transocean Marianas

 

(6), (8)

 

semi

 

 

 

1979/1998

 

7,000

 

30,000

 

South Africa

 

PetroSA

 

Apr-15

 

Feb-16

 

370,000

 

370,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

High Specification Floater: Harsh Environment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Polar Pioneer

 

(6)

 

semi

 

 

 

1985

 

1,500

 

25,000

 

Alaska

 

Shell

 

Jun-17

 

Oct-17

 

623,000

 

589,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Paul B. Loyd, Jr.

 

(7)

 

semi

 

 

 

1990

 

2,000

 

25,000

 

UKNS

 

BP

 

Jun-17

 

Sep-17

 

453,000

 

453,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(7)

 

 

 

 

 

 

 

 

 

 

 

UKNS

 

BP

 

Sep-17

 

Mar-18

 

459,000

 

453,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(7)

 

 

 

 

 

 

 

 

 

 

 

UKNS

 

BP

 

Mar-18

 

Jun-18

 

466,000

 

459,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Midwater Floaters

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sedco 714

 

(7)

 

semi

 

 

 

1983/1997

 

1,600

 

25,000

 

UKNS

 

Total

 

Mar-16

 

Sep-16

 

370,000

 

446,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

High Specification Jackups

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GSF Galaxy I

 

(6), (7)

 

 

 

 

 

1991/2001

 

400

 

30,000

 

UKNS

 

Total

 

May-17

 

May-18

 

240,000

 

231,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(6), (7)

 

 

 

 

 

 

 

 

 

 

 

UKNS

 

Total

 

May-18

 

May-19

 

250,000

 

240,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue Efficiency

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue efficiency is defined as actual contract drilling revenues for the measurement period divided by the maximum revenue calculated for the measurement period, expressed as a percentage.  Maximum revenue is defined as the greatest amount of contract drilling revenues the drilling unit could earn for the measurement period, excluding amounts related to incentive provisions. Revenue Efficiency does not apply during Out of Service Days (Shipyard, Mobilizations, Demobilizations, Contract Preparation).

 

 

 

Q2 2014 Actual

 

Q1 2014 Actual

 

Q4 2013 Actual

 

Q3 2013 Actual

 

Q2 2013 Actual

 

Q1 2013 Actual

 

Q4 2012 Actual

 

Q3 2012 Actual

 

Ultra Deepwater

 

94.0

%

96.4

%

90.0

%

92.5

%

91.1

%

83.8

%

95.5

%

95.9

%

Deepwater

 

94.5

%

100.5

%

95.0

%

91.1

%

91.8

%

86.4

%

90.9

%

96.1

%

Harsh Environment Floaters

 

95.7

%

96.3

%

92.1

%

99.9

%

98.3

%

97.6

%

97.3

%

95.4

%

Midwater Floaters

 

97.0

%

91.1

%

92.3

%

95.3

%

94.5

%

92.1

%

93.9

%

90.4

%

High Specification Jackups

 

97.3

%

94.5

%

97.2

%

98.9

%

98.6

%

96.4

%

95.2

%

97.2

%

Total Fleet - Continuing Operations

 

95.0

%

95.7

%

91.7

%

94.0

%

93.1

%

88.0

%

94.7

%

94.9

%

 

Estimated Contract Drilling Revenue can be calculated as: Paid Days on Contract * Average Contract Dayrate * Revenue Efficiency

 


 

Updated: October 15, 2014

Revisions Noted in Bold

 

Footnotes

 

(1)

Dates shown are the original service date and the date of the most recent upgrade, if any.

(2)

Estimated Contract Start and Estimated Expiration Dates are calculated as follows: (1) for events estimated to occur between the 1st and 15th of a month, the previous month is reported (i.e. a contract which is estimated to commence on May 4, 2014 will be reported as commencing in April 2014) and (2) for events estimated to occur between the 16th and the end of a month, the actual month is reported (i.e. a contract which is estimated to commence on May 24, 2014 will be reported as commencing in May 2014).  Expiration dates represent the company’s current estimate of the earliest date the contract for each rig is likely to expire. Some rigs have two or more contracts in continuation, so the last line shows the estimated earliest availability. Many contracts permit the customer to extend the contract.

(3)

Represents the full operating dayrate, although the average dayrate over the term of the contract will be lower and could be substantially lower. Does not reflect incentive programs which are typically based on the rig’s operating performance against a performance curve. Please refer to the “Customer Contract Duration and Dayrates and Risks Associated with Operations” section of the Disclaimers & Definitions for a description of dayrates.  This column may not reflect the rate currently being received under the contract as a result of an applicable standby rate or other rate, which typically is less than the contract dayrate.

(4)

The out of service time represents those days where a rig is scheduled to be out of service and not be available to earn an operating dayrate. Please refer to the “Out of Service Days (Shipyards, Mobilizations, Demobilizations, Contract Preparation)” section of the Disclaimers & Definitions for a full description. 

(5)

Estimated Average Contract Dayrate is defined as the average contracted full operating dayrate to be earned per revenue earning day. See note (3) for definition of full operating dayrate.

(6)

Reflects the current contracted dayrate which could reflect prior cost escalations and could change in the future due to further cost escalations.

(7)

Reflects the current contracted dayrate which is comprised of a foreign currency component and which could change due to foreign exchange adjustments.

(8)

Current contract provides for a bonus incentive opportunity not reflected in the stated current contract dayrate.

(9)

On February 26, 2014, a subsidiary of Transocean Ltd. awarded contracts to Sembcorp Marine’s subsidiary, Jurong Shipyard, in Singapore for construction of two newbuild dynamically positioned ultra-deepwater drillships. The two drillships are expected to be delivered from the shipyard in the second quarter of 2017 and the first quarter of 2018, respectively.

(10)

Fixed price options may be exercised at the customer’s discretion. During periods when dayrates on new contracts are increasing relative to existing contracts, the likelihood of customers’ exercising fixed price options increases. During periods when dayrates on new contracts are decreasing relative to existing contracts, the likelihood of customers’ exercising fixed price options declines.

(11)

The contract is expected to start in the quarter indicated.  Factors that could influence the contract start date include shipyard delivery, customer acceptance, and mobilization to operating location, among others.

(12)

Until August 2012, the contract dayrate was $469,000, subject to cost escalation. The dayrate for the remainder of the contract is linked to the standard West Texas Intermediate crude oil price with a floor of $40 per barrel resulting in a contract dayrate of $400,000 and a ceiling of $70 per barrel resulting in a contract dayrate of $500,000, subject to cost escalation.

(13)

The rig is owned by a joint venture in which the company owns less than a 100 percent interest.  Dayrate reflects 100 percent of the contract rate.

(14)

The customer may elect to have the operating dayrate for the last five years of the contract fluctuate based on crude oil price with a floor of $458,250 corresponding to a crude oil price of less than or equal to $50 per barrel, and a ceiling of $558,250 corresponding to a crude oil price of $100 per barrel or greater.

(15)

While the customer has the option to add any out of service days to the end of the contract, the Estimated Expiration Date does not reflect any extension due to this option until actually exercised by the customer.

(16)

Dayrate excludes additional premiums for parallel operations at well centers and dynamic position operations.

(17)

Dayrate excludes additional premiums for parallel operations at well centers, dynamic position operations and HPHT operations.  Reduced dayrate will apply up to a maximum of 200 days for operation in water depths less or equal to 500 meters.

(18)

The contract guarantees a minimum of 240 days at this dayrate which applies for drilling HPHT wells.  The dayrate will become $265,000 if the rig drills standard wells.

(19)

The rig is owned by Transocean Partners LLC in which the company owns less than a 100% interest. Please refer to Transocean Partners LLC (NYSE: RIGP) Fleet Status Report which can be found at www.transoceanpartners.com.

(20)

The first of five newbuild high-specification jackups contracted to Keppel FELS Limited’s shipyard in Singapore is expected to be delivered from the shipyard in the first quarter of 2016 and the remaining four jackups delivered at approximately four-month intervals thereafter.

(21)

Reflects the dayrate while the Sedco Energy is used for deepwater or dynamic positioning programs.  While the rig is used for midwater moored programs, the dayrate will be $370,475.

(22)

Mobilization, customer commissioning and acceptance testing commenced in March 2014. Revenue of approximately $52 million earned from March 2014 to July 2014 will be recognized over the remaining three-year contract period ending in March 2017.

(23)

By mutual agreement (related to a previous fire incident on the rig), dayrate will be $455,000 from May 1, 2014 to October 15, 2014.  If there is a well-in-progress at October 15, 2014, the dayrate will revert back to $600,000.

(24)

The dayrate for the last year of the contract will be set three months prior to the third anniversary of the contract commencement date, subject to a floor dayrate of $305,000 and a ceiling dayrate of $365,000, pursuant to the terms of the contract.

(25)

The customer has exercised a contract provision whereby the estimated dayrate will be $400,000 from approximately November 10, 2014 to December 31, 2014.

 


 

Updated: October 15, 2014

Revisions Noted in Bold

 

Stacked Rigs

 

Rig Type/Name

 

Start Date

Deepwater (3)

 

 

Sovereign Explorer

 

11/1/2010

Transocean Rather

 

9/18/2013

Sedco 710

 

9/5/2013

Midwater Floaters (5)

 

 

Sedco 700

 

Prior to 2010

GSF Aleutian Key

 

1/9/2010

Sedco 601

 

4/9/2011

J.W. McLean

 

4/13/2011

GSF Arctic I

 

7/1/2013

Idle (2)

 

 

GSF Development Driller I

 

2/21/2014

Jack Ryan

 

9/18/2014

 

Stacked and Idle rigs detailed above are not currently operating on contract.  Start date denotes when rig commences idle or stacked status.

 

An “Idle” rig is between contracts, readily available for operations, and operating costs are typically at or near normal levels.  A “Stacked” rig, on the other hand, is manned by a reduced crew or unmanned and typically has reduced operating costs and is (i) preparing for an extended period of inactivity, (ii) expected to continue to be inactive for an extended period, or (iii) completing a period of extended inactivity.  However, stacked rigs will continue to incur operating costs at or above normal operating costs for 30 to 60 days following initiation of stacking.

 


 

 

DISCLAIMERS & DEFINITIONS

 

The information contained in this Fleet Status Report (the “Information”) is as of the date of the report only and is subject to change without notice to the recipient. Transocean Ltd. assumes no duty to update any portion of the Information.

 

DISCLAIMER. NEITHER TRANSOCEAN LTD. NOR ITS AFFILIATES MAKE ANY EXPRESS OR IMPLIED WARRANTIES (INCLUDING, WITHOUT LIMITATION, ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE) REGARDING THE INFORMATION CONTAINED IN THIS REPORT, WHICH INFORMATION IS PROVIDED “AS IS.” Neither Transocean Ltd. nor its affiliates will be liable to any recipient or anyone else for any inaccuracy, error or omission, regardless of cause, in the information set forth in this report or for any damages (whether direct or indirect, consequential, punitive or exemplary) resulting therefrom.

 

No Unauthorized Publication or Use. All information provided by Transocean in this report is given for the exclusive use of the recipient and may not be published, redistributed or retransmitted without the prior written consent of Transocean.

 

Customer Contract Duration, Timing and Dayrates and Risks Associated with Operations. The duration and timing (including both starting and ending dates) of the customer contracts are estimates only, and customer contracts are subject to cancellation, suspension and delays for a variety of reasons, including some beyond the control of Transocean. Also, the dayrates set forth in the report are estimates based upon the full contractual operating dayrate. However, the actual average dayrate earned over the course of any given contract will be lower and could be substantially lower. The actual average dayrate will depend upon a number of factors (rig downtime, suspension of operations, etc.) including some beyond the control of Transocean. Our customer contracts and operations are generally subject to a number of risks and uncertainties, and we urge you to review the description and explanation of such risks and uncertainties in our filings with the Securities and Exchange Commission (SEC), which are available free of charge on the SEC’s website at www.sec.gov.  The dayrates do not include revenue for mobilizations, demobilizations, upgrades, shipyards or recharges.

 

Out of Service Days (Shipyards, Mobilizations, Demobilizations, Contract Preparation). Changes in estimated out of service time are noted where changes in the time Transocean anticipates that a rig is scheduled to be out of service and not be available to earn an operating dayrate have changed by a period of 15 days or longer for all rig classifications since the previously issued Monthly Fleet Update Summary or Comprehensive Fleet Status Report.  The changes to estimated out of service time included in this Fleet Status may not be firm and could change significantly based on a variety of factors.  Any significant changes to our estimates of out of service time will be reflected in subsequent Monthly Fleet Updates and Comprehensive Fleet Status Reports, as applicable.

 

Contract Preparation refers to periods during which the rig is undergoing modifications or upgrades as a result of contract requirements.  Shipyards refers to periods during which the rig is out of service as a result of other scheduled shipyards, surveys, repairs, regulatory inspections or other scheduled service or work on the rig.

 

In some instances such as certain mobilizations, demobilizations, upgrades and shipyards, we are paid compensation by our customers that is generally recognized over the life of the primary contract term of the drilling project, although such compensation is not typically significant in relation to the revenues generated by the dayrates we charge our customers.   When mobilization or demobilization occurs during a contract period, we recognize revenues as earned.  In instances where mobilization or demobilization time occurs before or between the start of a contract period, the stated estimated contract start date represents the expected commencement date for the primary contract term of the drilling project and the point at which we expect to begin recognizing revenues.

 

Forward-Looking Statement.  The statements made in the Fleet Update that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements made in the Fleet Update include, but are not limited to, statements involving the estimated duration of customer contracts, contract dayrate amounts, future contract commencement dates and locations and planned shipyard projects and other out of service time. Such statements are subject to numerous risks, uncertainties and assumptions, including but not limited to, uncertainties relating to the level of activity in offshore oil and gas exploration and development, exploration success by producers, oil and gas prices, competition and market conditions in the contract drilling industry, shipyard delays, actions and approvals of third parties, possible cancellation or suspension of drilling contracts as a result of mechanical difficulties or performance, Transocean’s ability to enter into and the terms of future contracts, the availability of qualified personnel, labor relations and the outcome of negotiations with unions representing workers, operating hazards, factors affecting the duration of contracts including well-in-progress provisions, the actual amount of downtime, factors resulting in reduced applicable dayrates, hurricanes and other weather conditions, terrorism, political and other uncertainties inherent in non-U.S. operations (including the risk of war, civil disturbance, seizure or damage of equipment and exchange and currency fluctuations), the impact of governmental laws and regulations, the adequacy of sources of liquidity, the effect of litigation and contingencies and other factors described above and discussed in Transocean’s most recently filed Form 10-K, in Transocean’s Forms 10-Q for subsequent periods and in Transocean’s other filings with the SEC, which are available free of charge on the SEC’s website at www.sec.gov. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated. You should not place undue reliance on forward-looking statements. Each forward-looking statement speaks only as of the date of the particular statement, and we undertake no obligation to publicly update or revise any forward looking statements, except as required by law.

 

Fleet Classification. Transocean uses a rig classification for its semisubmersible rigs and drillships to reflect the company’s strategic focus on the ownership and operation of premium, high specification floating rigs. The rig classification “High Specification Floaters” is comprised of “Ultra-Deepwater” which refers to the latest generation of semisubmersible rigs and drillships possessing the latest technical drilling capabilities and the ability to operate in water depths equal to or greater than 7,500 feet, “Deepwater” which refers to semisubmersible rigs and drillships that possess the ability to drill in water depths equal to or greater than 4,500 feet, and “Harsh Environment” comprised of seven of the company’s premium harsh environment rigs, the semisubmersibles Transocean Barents, Transocean Spitsbergen, Henry Goodrich, Transocean Leader, Paul B. Loyd, Jr., Transocean Arctic and Polar Pioneer. The category titled “Midwater Floaters” represents semisubmersible rigs and drillships that possess the ability to drill in water depths of up to 4,499 feet.  The category titled “High Specification Jackups” consists of high performance jackup rigs that possess the ability to drill in water depths of 400 feet or less.

 

Stacking.  An “Idle” rig is between contracts, readily available for operations, and operating costs are typically at or near normal levels.  A “Stacked” rig, on the other hand, is manned by a reduced crew or unmanned and typically has reduced operating costs and is (i) preparing for an extended period of inactivity, (ii) expected to continue to be inactive for an extended period, or (iii) completing a period of extended inactivity.  However, stacked rigs will continue to incur operating costs at or above normal operating costs for 30 to 60 days following initiation of stacking.